Steel Scrap Market Scope and Size by 2031
Scrap is a recyclable material left over from product manufacturing and consumption, such as parts of vehicles, building supplies, and surplus materials. Unlike waste, scrap has monetary value, mainly recovered metals, and non-metallic materials are also recovered for recycling. Steel scrap consists of discarded steel or steel products, usually segregated by composition and size or 'grade' suitable for melting.
MARKET DYNAMICS
The steel scrap market has witnessed a significant growth owing to factors such as increase in scrap usage innovations. Moreover, the sector consists of homogeneous steel and scraps from auto bodies, the augmented need of disposing such materials is expected to result in market growth during the forecast period. However, relatively high price is projected to hamper the overall growth of the steel scrap market.
MARKET SCOPE
The "Global Steel Scrap Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the steel scrap market with detailed market segmentation type, application, and geography. The global steel scrap market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steel scrap market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global steel scrap market is segmented on the basis of grade and source. On the basis of grade, the global steel scrap market is divided into shredded, No.1 busheling, cut structural and plate, No.1 and electric furnace bundles, No.2 heavy metal steel and bundles, No.1 heavy metal, turnings and borings, slag, and others. On the basis of application, the global steel scrap market is divided into home scrap, prompt scrap, and obsolete scrap.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel scrap market based on various segments. It also provides marketsize and forecast estimates from the year 2021to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel scrap market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the steel scrap market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel scrap market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel scrap market based on various segments. It also provides marketsize and forecast estimates from the year 2021to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel scrap market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the steel scrap market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel scrap market in these regions.
MARKET PLAYERS
The reports cover key developments in the steel scrap market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of marketplayers. The marketpayers from steel scrap market is anticipated to lucrative growth opportunities in the future with the rising demand for steel scrap in the global market. Below mentioned is the list of few companies engaged in the steel scrap market.
The report also includes the profiles of key companies along with their SWOT analysis and marketstrategies in the steel scrap market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ArcelorMittal S.A.
- Baosteel Resources Co., Ltd.
- Commercial Metals Company
- Gerdau Ameristeel Corporation
- Maanshan Iron & Steel Company Limited
- Metalico Inc.
- Nucor Corporation
- Oryx Stainless Group
- Schnitzer Steel Industries Inc.
- Steel Dynamics Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Steel Scrap Market - By Grade
1.3.2Steel Scrap Market - By Source
1.3.3Steel Scrap Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.STEEL SCRAP MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.STEEL SCRAP MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.STEEL SCRAP MARKET - GLOBAL MARKET ANALYSIS
6.1.STEEL SCRAP - GLOBAL MARKET OVERVIEW
6.2.STEEL SCRAP - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.STEEL SCRAP MARKET - REVENUE AND FORECASTS TO 2028 - GRADE
7.1.OVERVIEW
7.2.GRADE MARKET FORECASTS AND ANALYSIS
7.3.SHREDDED
7.3.1.Overview
7.3.2.Shredded Market Forecast and Analysis
7.4.NO.1 BUSHELING
7.4.1.Overview
7.4.2.No.1 busheling Market Forecast and Analysis
7.5.CUT STRUCTURAL AND PLATE
7.5.1.Overview
7.5.2.Cut structural and plate Market Forecast and Analysis
7.6.NO.1 AND ELECTRIC FURNACE BUNDLES
7.6.1.Overview
7.6.2.No.1 and electric furnace bundles Market Forecast and Analysis
7.7.NO.2 HEAVY METAL STEEL AND BUNDLES
7.7.1.Overview
7.7.2.No.2 heavy metal steel and bundles Market Forecast and Analysis
7.8.NO.1 HEAVY METAL
7.8.1.Overview
7.8.2.No.1 heavy metal Market Forecast and Analysis
7.9.TURNINGS AND BORINGS
7.9.1.Overview
7.9.2.Turnings and borings Market Forecast and Analysis
7.10.SLAG
7.10.1.Overview
7.10.2.Slag Market Forecast and Analysis
7.11.OTHERS
7.11.1.Overview
7.11.2.Others Market Forecast and Analysis
8.STEEL SCRAP MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
8.1.OVERVIEW
8.2.SOURCE MARKET FORECASTS AND ANALYSIS
8.3.HOME SCRAP
8.3.1.Overview
8.3.2.Home scrap Market Forecast and Analysis
8.4.PROMPT SCRAP
8.4.1.Overview
8.4.2.Prompt scrap Market Forecast and Analysis
8.5.OBSOLETE SCRAP
8.5.1.Overview
8.5.2.Obsolete scrap Market Forecast and Analysis
9.STEEL SCRAP MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Steel Scrap Market Overview
9.1.2North America Steel Scrap Market Forecasts and Analysis
9.1.3North America Steel Scrap Market Forecasts and Analysis - By Grade
9.1.4North America Steel Scrap Market Forecasts and Analysis - By Source
9.1.5North America Steel Scrap Market Forecasts and Analysis - By Countries
9.1.5.1United States Steel Scrap Market
9.1.5.1.1United States Steel Scrap Market by Grade
9.1.5.1.2United States Steel Scrap Market by Source
9.1.5.2Canada Steel Scrap Market
9.1.5.2.1Canada Steel Scrap Market by Grade
9.1.5.2.2Canada Steel Scrap Market by Source
9.1.5.3Mexico Steel Scrap Market
9.1.5.3.1Mexico Steel Scrap Market by Grade
9.1.5.3.2Mexico Steel Scrap Market by Source
9.2.EUROPE
9.2.1Europe Steel Scrap Market Overview
9.2.2Europe Steel Scrap Market Forecasts and Analysis
9.2.3Europe Steel Scrap Market Forecasts and Analysis - By Grade
9.2.4Europe Steel Scrap Market Forecasts and Analysis - By Source
9.2.5Europe Steel Scrap Market Forecasts and Analysis - By Countries
9.2.5.1Germany Steel Scrap Market
9.2.5.1.1Germany Steel Scrap Market by Grade
9.2.5.1.2Germany Steel Scrap Market by Source
9.2.5.2France Steel Scrap Market
9.2.5.2.1France Steel Scrap Market by Grade
9.2.5.2.2France Steel Scrap Market by Source
9.2.5.3Italy Steel Scrap Market
9.2.5.3.1Italy Steel Scrap Market by Grade
9.2.5.3.2Italy Steel Scrap Market by Source
9.2.5.4United Kingdom Steel Scrap Market
9.2.5.4.1United Kingdom Steel Scrap Market by Grade
9.2.5.4.2United Kingdom Steel Scrap Market by Source
9.2.5.5Russia Steel Scrap Market
9.2.5.5.1Russia Steel Scrap Market by Grade
9.2.5.5.2Russia Steel Scrap Market by Source
9.2.5.6Rest of Europe Steel Scrap Market
9.2.5.6.1Rest of Europe Steel Scrap Market by Grade
9.2.5.6.2Rest of Europe Steel Scrap Market by Source
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Steel Scrap Market Overview
9.3.2Asia-Pacific Steel Scrap Market Forecasts and Analysis
9.3.3Asia-Pacific Steel Scrap Market Forecasts and Analysis - By Grade
9.3.4Asia-Pacific Steel Scrap Market Forecasts and Analysis - By Source
9.3.5Asia-Pacific Steel Scrap Market Forecasts and Analysis - By Countries
9.3.5.1Australia Steel Scrap Market
9.3.5.1.1Australia Steel Scrap Market by Grade
9.3.5.1.2Australia Steel Scrap Market by Source
9.3.5.2China Steel Scrap Market
9.3.5.2.1China Steel Scrap Market by Grade
9.3.5.2.2China Steel Scrap Market by Source
9.3.5.3India Steel Scrap Market
9.3.5.3.1India Steel Scrap Market by Grade
9.3.5.3.2India Steel Scrap Market by Source
9.3.5.4Japan Steel Scrap Market
9.3.5.4.1Japan Steel Scrap Market by Grade
9.3.5.4.2Japan Steel Scrap Market by Source
9.3.5.5South Korea Steel Scrap Market
9.3.5.5.1South Korea Steel Scrap Market by Grade
9.3.5.5.2South Korea Steel Scrap Market by Source
9.3.5.6Rest of Asia-Pacific Steel Scrap Market
9.3.5.6.1Rest of Asia-Pacific Steel Scrap Market by Grade
9.3.5.6.2Rest of Asia-Pacific Steel Scrap Market by Source
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Steel Scrap Market Overview
9.4.2Middle East and Africa Steel Scrap Market Forecasts and Analysis
9.4.3Middle East and Africa Steel Scrap Market Forecasts and Analysis - By Grade
9.4.4Middle East and Africa Steel Scrap Market Forecasts and Analysis - By Source
9.4.5Middle East and Africa Steel Scrap Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Steel Scrap Market
9.4.5.1.1South Africa Steel Scrap Market by Grade
9.4.5.1.2South Africa Steel Scrap Market by Source
9.4.5.2Saudi Arabia Steel Scrap Market
9.4.5.2.1Saudi Arabia Steel Scrap Market by Grade
9.4.5.2.2Saudi Arabia Steel Scrap Market by Source
9.4.5.3U.A.E Steel Scrap Market
9.4.5.3.1U.A.E Steel Scrap Market by Grade
9.4.5.3.2U.A.E Steel Scrap Market by Source
9.4.5.4Rest of Middle East and Africa Steel Scrap Market
9.4.5.4.1Rest of Middle East and Africa Steel Scrap Market by Grade
9.4.5.4.2Rest of Middle East and Africa Steel Scrap Market by Source
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Steel Scrap Market Overview
9.5.2South and Central America Steel Scrap Market Forecasts and Analysis
9.5.3South and Central America Steel Scrap Market Forecasts and Analysis - By Grade
9.5.4South and Central America Steel Scrap Market Forecasts and Analysis - By Source
9.5.5South and Central America Steel Scrap Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Steel Scrap Market
9.5.5.1.1Brazil Steel Scrap Market by Grade
9.5.5.1.2Brazil Steel Scrap Market by Source
9.5.5.2Argentina Steel Scrap Market
9.5.5.2.1Argentina Steel Scrap Market by Grade
9.5.5.2.2Argentina Steel Scrap Market by Source
9.5.5.3Rest of South and Central America Steel Scrap Market
9.5.5.3.1Rest of South and Central America Steel Scrap Market by Grade
9.5.5.3.2Rest of South and Central America Steel Scrap Market by Source
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.STEEL SCRAP MARKET, KEY COMPANY PROFILES
11.1.ARCELORMITTAL S.A.
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.BAOSTEEL RESOURCES CO., LTD.
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.COMMERCIAL METALS COMPANY
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.GERDAU AMERISTEEL CORPORATION
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.MAANSHAN IRON AND STEEL COMPANY LIMITED
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.METALICO INC.
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.NUCOR CORPORATION
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.ORYX STAINLESS GROUP
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SCHNITZER STEEL INDUSTRIES INC.
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.STEEL DYNAMICS INC.
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. ArcelorMittal S.A.
2. Baosteel Resources Co., Ltd.
3. Commercial Metals Company
4. Gerdau Ameristeel Corporation
5. Maanshan Iron and Steel Company Limited
6. Metalico Inc.
7. Nucor Corporation
8. Oryx Stainless Group
9. Schnitzer Steel Industries Inc.
10. Steel Dynamics Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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